is mostly an accurate assessment. However, always
having been a value stock investor based on earnings and
reasonable P/E's the crash in these new market stocks was
inevitable with or without big Al's help IMHO.
The
part of your message that I would like to draw
attention to is the emphasis on the amount of power that
certain people and offices have to push the bond and
stock markets in any direction they choose whether or
not the reasons are personal gain, political favor,
or for the good of the US economy. Many shortterm
decisions that are announced are made for the benefit of
those in these positions. That is why it is important
for investors not pay too much attention to the day
to day noise and to try to pick up the trends such
as interest rates, nasdac, etc.
Many
politicians go into office poor and come out rich. I doubt
that they come out rich because of their superior
saving habits.
Just one example: If Bill Clinton
had to pay income taxes on all of the personal legal
fees that someone else has paid for him since he has
been in office it would make for an interesting
amount.
I may be wrong, but I have visions in my
head of lobyists with atache cases full of cash
targeting politicians on certain issues where they need
votes for their clients. Politics is and has been
corrupt since the beginning of time and it ain't likely
to improve any time soon.
In such an
investment environment where nothing rational or logical
happens it is tough to make a buck when an investor
thinks rationally when placing his/her bets in the
market. Now if you throw in investor greed, that makes it
impossible to make a dollar!
Oh me! Oh My!!